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2023

2022

  • Daiwa's View

    Daiwa's View

    30 May 2023 910 KB PDF
    • Has the world changed since the BOJ’s April meeting?
    • Main scenario for BOJ policy outlook: Raises 10yr JGB yield target range in Oct-Dec 2023
  • Daiwa's View

    Daiwa's View

    29 May 2023 657 KB PDF
    • What will come following debt ceiling deal?
    • Tightening effects caused by issuance of a large number of Treasury Bills
    • It could cause a shift from path of fiscal expansion
  • Daiwa's View

    Daiwa's View

    26 May 2023 845 KB PDF
    • 10-year US yield topped 3.8%
    • If projection for policy interest rate is unchanged, point of reference will be 3.95%
  • Daiwa's View

    Daiwa's View

    24 May 2023 771 KB PDF
    • Will USD/JPY rate reach Y140?
    • It would be unlikely to stay there for long
    • Resolution of US debt ceiling issue would boost USD/JPY rate
  • Daiwa's View

    Daiwa's View

    17 April 2023 735 KB PDF
    • Points warranting attention toward Golden Week: (1) Timing for SLOOS and FOMC releases, (2) speculation about BOJ forward guidance revisions
  • Monthly MBS Issue

    Monthly MBS Issue

    14 April 2023 1059 KB PDF
    • RMBS supporting “Flat 35 outlook providing peace of mind”
  • Daiwa's View

    Daiwa's View

    12 April 2023 961 KB PDF
    • Anticipating 10-year JGB yield at 0.3% level and 20-year yield at 0.9% level at end of 2023 amid decline in US yields
  • Update on GX economic transition bonds

    Update on GX economic transition bonds

    11 April 2023 625 KB PDF
    • GX economic transition bonds will be launched in FY23, amid the expansion in the SDG bond market
    • We focus here on discussions at the Meeting of JGB Market Special Participants and the Meeting of JGB Investors
    • In my view, issuance of GX bonds in the 5yr and 20yr sectors is recommended
    • We should also carefully monitor changes in investors’ stance on greeniums